16
Jul
20:09
Cliffs-Stelco merger may increase prices regionally: market sources
Cleveland-Cliffs' acquisition of Canada's Stelco Holdings may result in higher prices for some steel grades in the Great Lakes region, Kallanish hears from market sources.
Cleveland-Cliffs announced on Monday that it is paying CAD 3.4 billion ($2.5 billion) in cash and stock to acquire Stelco. The sale includes Stelco’s Lake Erie Works and Hamilton Works, both in Ontario (see Kallanish 16 July).
One steel consumer says the merger could result …
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Anonymous
Very good overview of the weekly steel market.
Anonymous